Getting real on Good Class Bungalow prices

[SINGAPORE] Some time last year, a 30-year-old bungalow in Peirce Hill owned by Kelly Chen, the wife of failed Three Arrows Capital co-founder Kyle Davies, was quietly put on the market at an asking price of S$45 million.

No deal materialised then. In May this year, the freehold property, in the Ridout Park Good Class Bungalow Area (GCBA), fetched S$37 million, reflecting S$2,144 per square foot (psf) on the land area of 17,260 square feet (sq ft).

A similar-age bungalow at a T-junction in Old Holland Road was put up for sale at S$66.7 million in March 2024 by Teo Hock Seng, chairman of Komoco Holdings. It could not be sold for a year. In April 2025, Teo put the property on the auction block with an opening price of S$36 million. The bungalow – with six en suite bedrooms, a swimming pool and a car porch for 10 cars – was withdrawn at the highest bid of S$35 million, as the reserve price was not met. It was sold soon thereafter via private treaty.